(Chelsea Update would like to thank Nicole Bell for the information in this story.)
Chelsea State Bank will host a complimentary event where community members can gather to learn more about the Michigan Education Trust Plan and the Michigan Education Savings Plan on Tuesday, Oct. 14 from 6:30 – 7:30 pm at Chelsea District Library, 221 S. Main St.
The purpose of this event is to help families decide if either is a good fit for their children, grandchildren, nieces or nephews.
“Data shows us that ‘American [1]college students and their families paid 48% of college costs out-of-pocket, equivalent to $13,760 per student for the 2023-2024 academic year,’” said Joanne Rau, president and CEO, Chelsea State Bank in a press release. “Furthermore, data supports that ‘only 35% of families are using college savings programs.’” “Learning about the different college savings plans and identifying which plan is best for your family should not be a master puzzle. We strongly feel that this is a conversation Chelsea State Bank can help facilitate, connecting families with available options, allowing them to choose which plan works best for their family’s financial goals.”
A representative from the Michigan Department of Treasury will be on site, facilitating the conversation by providing an informal presentation of their two plans.
Chelsea District Library Director Lori Coryell said, “We are incredibly grateful to Chelsea State Bank for their commitment to local families and helping educate our community about options for saving for college. Higher education is expensive, and reducing debt helps our next generation on a pathway to success.”
Those interested in attending this complimentary event should register here: https://chelseadistrictlibrary.libnet.info/event/13673722.
